Enhanced due diligence needed to avoid M&A fraud

The man who helped push China Metal Recycling into liquidation, Glaucus Research Group’s Soren Aandahl, tells FinanceAsia how he sniffs out fraud and where he is looking for his next target.

UBS could lose its Hong Kong corporate finance licence after a crackdown by the local regulator. But it will not be the only bank threatened with stiff penalties, according to a source familiar with the regulator’s plans.

The scrap metal recycling company raises $200 million to become the second-largest Hong Kong IPO year-to-date. Strong retail demand triggers a clawback that boosts the retail tranche to 30%.

Temasek-backed GDS is taking advantage of blind euphoria over data centres' growth prospects, Blue Orca says. GDS hits back. Whether the claims are true or not investors should take a more critical look at serial capital-raisers using lofty valuations to make acquisitions.

Bonds of the Mumbai-based software developer plunge to record low after Glaucus Research issues report urging investors to sell. Rolta swiftly gave a strong rebuttal.

Citing discrepancies, Blue Orca claims Tencent-backed Pinduoduo reported inflated sales and GMV numbers. Judging by its response so far, though, the market seems unconvinced.